Memo - First Quarter 2008 Financial Report
MEMORANDUM
Date:
To:
From:
April 15, 2008
Mayor & City Council
Christine Harkess, Finance Director tW
Subject: First Quarter 2008 Financial Report
Attached is the first quarter financial report power point presentation. If you have any questions
in advance please contact me. A full presentation will be given at the council meeting.
2008
1st QUART R
FINANCIAL AND INVES ENT REPORT
CITY OF HOPKINS
. At the end of 1 st quarter the year is 250/0
expired.
. Revenues are at 230/0 of total budget
. Expenditures are at 200/0 of budget
1
. Taxes support 82%) of general fund activities.
. Intergovernmental revenues support 4%
. Licenses, Permits & Fines support 7%
. Charges for Services support 2%
. Miscellaneous revenues including Franchise
fees support 30/0
. Interest income supports 1 %
lID 2008
El 2007
l1li2006
lID 2005
2
% age of
Budaet Actual . Budaet
Taxes $7,869,380 $1,983,713 25.2%
Intergovernmental $ 440,510 $ 57,506 13.5%
Licenses, Permits &
Fines $ 643,670 $ 57,027 8.9%
Charges for Services $ 220,500 $ 34,350 16.5%
Miscellaneous $ 303,200 $ 7,285 2.4%
Interest Income $ 107 ,907 $ 16.207 15.2%
Total Revenues $9,572,167 $2,156,089 23.5%
enditures
. Salaries and benefits make up 76% of
GF expenditures
. Materials, supplies and services make up
22%
. Transfers and Contingency make up 1 %
. Capital make up less than 1 %
3
$1,600
$1 ,400
$1,200
$1,000
$800
$600
$400
$200
$0
Salaries
MatUSpls
Capital
Community
Services
1iIIl2008
1liii2007
1liii2006
111!12005
4
% age of
Budaet Actual Budaet
General Government $1,103,751 $ 254,846 23.1%
Community Services $ 935,846 $ 171,092 18.3%
Public Safety $4,836,860 $ 1,002,446 20.7%
Public Works $2,017,671 $ 375,498 18.6%
Recreation $ 527,039 $ 69,051 13.1%
Other $ 151 ,000 $ 1.050 .7%
Total Expenditures $9,572,167 $1,873,982 19.6%
Sl.000
$2.000
so
2008
2001
2006
2005
5
Budaet
Chemical Assessment $ 45,000
Economic Development $ 262,168
Paratransit $ 128,604
Housing Rehab $ 78,358
Parking $ 105,008
Cable TV $ 168,825
Depot Coffee House $ 114,222
Art Center $ 660,670
xpenditures
Actual
$ 9,524
$ 34,227
$ 21,325
$ 18,186
$ 18,817
$ 8,725
$ 21,389
$ 135,212
% age of
Budaet
21%
13%
17%
23%
18%
5%
19%
20%
nds
Incr/(Decr)
Revenues Expenses Fund Balance
Water $ 247,027 $ 228,316 $ 18,711
Sewer $ 366,972 $ 361,736 $ 5,236
Refuse $ 171,828 $ 118,010 $ 53,818
Storm Sewer $ 183,787 $ 81,682 $102,105
Pavilion $ 138,801 $ 81,947 $ 56,854
6
Cash & Invest ents
March 31, 2008
. Bank Sweep Account
. Certificates of Deposit
. Commercial Paper
. Government Securities
Total
$ 3,381,911
970,000
1,000,000
5,000,000
$10,351,911
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
o
2008
2007
2006
2005
7
OVERALL REPO
HE CITY OF
HOPKINS
REMAINS IN GOOD
FINANCIAL HEALTH
8